The Power of the Piggy Bank | Important Life Skills Teaching About Money Management

In a society ridden with plastic, credit cards that is, it is so important that children begin to learn the value of money. Not to mention that there are some adults that still don’t really know the value of money. With that being said, teaching your child the importance of money management starts at home. Whether they are a part of helping you create your weekly shopping list to cutting out coupons from the Sunday paper, it is important that they be included in the process so they can fully understand that money does not grow on trees

The dreaded “B” word

It goes without being said that no one really likes to have to stick to a budget. It would be wonderful if money was ever flowing and those limitations did not need to be imposed on our spending. For a child, it is even harder to understand why we can’t just drop everything and run to the local toy store to buy the $50.00 toy they just saw on a commercial. Teaching your child why we budget and why it is so essential is important. Helping them learn impulse control and patience will go a long way. The fact is everyone has to wait at some point in time. We have to wait on long lines to get our morning coffee. Our children may have to wait for their turn on the slide at the playground. It is just part of our everyday lives.